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this post was submitted on 18 Oct 2024
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As I feel the need to say every time it's mentioned, BRICS is made-up nonsense fabricated by Goldman Sachs to sell third-rate equities. Think about the relationship between the countries of "BRICS" and ask yourself if that sounds like an actual alliance.
It has become a diplomatic talking shop similar to the G7. There has been pushes from some member states to make it more, including creating alternate financial systems, but it has been slow growing.
Russia got all pissy with Kazakhstan just this week as a result of them not joining the BRICS
Nothing like fomenting trust in a global financial transaction system by threatening potential user nations.
BRIC~~K~~S
Turtalous growth because of the so many differences in political, economical, ideological between the participating countries which results in shitload of epic proportions
People care about the G7 because they have power and they sometimes agree on important things.
Neither of those are true of the “BRICS”.
China, India, and Brazil are all large countries with large economies, but I agree they don't have a lot to agree on.
Sorry to say but “BRICS” is far from “made up nonsense” here in Brazil. There’s plenty of export and some industries that got a boost thanks to it, it’s a very real economic block. I don’t know why you would think that it is not real, especially now that we are setting up a payment system to avoid the dollar usage.
Oh really? Let's take China, the biggest economy in "BRICS". Here is the history of Brazil's trade to China. It has of course grown (probably mostly soybeans). You might think that growth is thanks to BRICS.
But wait, what's this? Canada's trade with China has grown even more? Is it now BRICCS?
This is nowhere near implementation. Putin proposing something doesn't immediately make it real. It also assumes great stupidity on the part of China and India to tether themselves economically to the sinking ship that is Russia. India in particular is exploiting Russian economic weakness at every opportunity.
This is intreresting. What is the connection between GS and BRICs? How does it help them sell equities?
https://www.goldmansachs.com/our-firm/history/moments/2001-brics
GS diversifying and playing both sides? Just a hunch. G7 has the west.. whereas one could argue that the BRICS might evolve into an eastern bloc.
Doesn't seem that way when Lula proposes Putin's peace plan that only BRICS countries think is fair.